Warburg Pincus has been a private equity investor since 1967 and has invested more than $45 billion in more than 675 companies in 30 countries around the world. Warburg Pincus invests at all stages of a company's life-cycle: From founding start-ups and fostering growth in developing companies to leading complex recapitalizations or large-scale buy-outs of more mature businesses. The firm established its first institutional fund in 1971 and over the last three decades has raised private equity funds with committed capital totaling more than $30 billion. In 2006, the firm closed Warburg Pincus Real Estate I, LP, a $1.2 billion fund dedicated to investing in real estate opportunities worldwide. In 2007, the firm closed on Warburg Pincus Private Equity X, L.P., a $15 billion fund. The firm invests in the areas of: Financial Services; Healthcare; Technology, Media and Telecommunications; Energy; and Consumer, Industrial, and Services. Warburg Pincus has nine professional offices around the world in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, Shanghai and Sao Paulo.